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MC
Mark Cuban
03/30/24
@ Lex Fridman
When dealing with big pharmacy benefit managers, obtaining claims data can be a lengthy and frustrating process, often requiring significant pressure to receive any information.
Video
LF
Mark Cuban: Shark Tank, DEI & Wokeism Debate, Elon Musk, Politics & Drugs | Lex Fridman Podcast #422
@ Lex Fridman
03/30/24
Related Takeaways
MC
Mark Cuban
03/30/24
@ Lex Fridman
The big pharmacy benefit managers prioritize profits over everything, operating in an opaque industry where they can manipulate prices without accountability.
MC
Mark Cuban
03/30/24
@ Lex Fridman
The big three pharmacy benefit managers will not disclose their pricing structures, making it impossible for clients to know if they are being charged fairly.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Insurance companies and pharmacy benefit managers (PBMs) often dictate which medications are authorized, sometimes requiring patients to try cheaper alternatives first, regardless of their effectiveness.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Pharmacy benefit managers often prevent access to cheaper biosimilars like YUSIMRY because they do not receive rebates on them, prioritizing profit over patient savings.
NP
Nick Perry
05/28/25
@ Joe Lonsdale
Medical billing is a complex process involving numerous steps to ensure healthcare providers get paid by insurance companies, and submitting claims correctly is particularly challenging.
MC
Mark Cuban
03/30/24
@ Lex Fridman
The big three PBMs are not reimbursing local pharmacies adequately, causing many to go out of business, which is detrimental to community healthcare.
MC
Mark Cuban
03/30/24
@ Lex Fridman
By analyzing our prescription drug costs, I discovered that we spent $169,000 with a pharmacy benefit manager, while it would have only cost $19,000 through Cost Plus Drugs.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Cost Plus Drugs provides a transparent price list for over 2,500 drugs, contrasting sharply with the lack of transparency from major pharmacy benefit managers.
AH
Andrew Huberman
05/28/25
@ Theo Von
Big pharma is a business that often prioritizes keeping drugs out of generic status to maintain high prices, which can hinder the discovery of new drugs.